The main market’s drivers
Trading on Monday remains multidirectional. What is more, the multidirectionality of the market can be traced to a relatively large extent with respect to safe currencies and the US dollar. The most consistently traded commodity currencies, while maintaining a high degree of restraint, despite the rising cost of raw materials. The British pound remains under the pressure from the start of the day, which is connected with the correction of positions before the publication of significant data on the UK this week and before the correction of positions on risks.
The US dollar index is limited by the downtrend, remaining under significant resistance levels of 96.90 and 97.00 despite attempts to grow on positive data on manufacturing activity. In fact, the downward trend slowed, but retained the potential for decline. Support levels: 96.60 and 96.50.
Fig. The US dollar index chart. The current price is 96.90 (10-year US government bonds yield is the blue line)
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Andre Green
Earn with the help of the trade service on the news Erste News!
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